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Bellwether index indicates US economy faces cooling

The government's index of leading economic indicators, a key measure of future economic activity, fell 0.7 percent in October, the Commerce Department reported Thursday. Seven of the 10 indicators fell, with the largest negative impact in claims for unemployment benefits.

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But the department revised upward the index for two previous months, saying the index rose 0.6 percent in September, instead of 0.4 percent, and rose 0.1 percent in August instead of falling 0.1 percent.

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